Top Challenges for Account Based Marketing

Account-based marketing dramatically changes the operational dynamics between sales and marketing. Early adopters saw impressive success and there was a lot of hype from tech vendors surrounding it; Although one may ask, what do the best account -based marketing practices look like? How should you begin this journey and build a consistent pipeline using your account-based funnel?

To some, the adoption of Abm may be easier said than done and it is right. Because concepts like AI-infuse ABM are becoming a relevant technique as well. To get the right outcomes for your endeavor, it’s important that you also identify the best ABM tactics, budget requirements, and the right resources for adopting an account-based strategy, and to tie your internal expectations of external outcomes.

This article will provide an overview of the purpose of ABM’s benchmark metrics, tactics, budget, resources, as well as insights gained into the organization to help you lay the groundwork for leveraging, developing, and improving your marketing initiatives based on your account. Let's get started.

Creating an account-based go-to-market strategy has become a top priority for marketers in recent years. However, the tactics, metrics, and resources used in this method are not directly translated on account -based. An ideal GTM strategy is one that is well-adjusted to drive engagement and sales growth across a range of target accounts and is the top priority for many growth-focused companies.

Some Basic Searches from Making ABM

ABM is a strategic market -going strategy that delivers key metrics at the board level. The following account -based marketing benchmarks improve customer lifetime value (80%), improve win rates (86%), and deliver a higher ROI (76%) than a traditional go-to-market strategy.

Since its early success, organizations have doubled ABM’s investment in 2019. Companies have increased their ABM spending by 41% in 2019.

More than two-thirds (69%) of top performing account-based organizations already have a dedicated account-based leader. The market has caught on - 70% of those who started their account -based initiatives in the last six months have assigned leaders.

The Ideal Customer Profile (ICP) of an ABM strategy separates the organization’s top performing account organizations from their peers. More than 80% of the most successful account -based organizations believe they have a strong ICP compared to 42% of other organizations.

ABM is more than just marketing - it’s a customized strategy based on a mix of customer -facing functions, marketing, sales development, and sales.

When conducting the ABM benchmark survey on what factors contribute to the success of ABM, TOPO concluded that Orchestration was the most effective. It not only coordinated sales and marketing efforts but also allowed organizations to direct anti-ICP efforts.

Then defining the Ideal Customer Profile was found among the top three success factors of 15% of the survey respondents. Having a strong ICP base has become one of the main differences among the big players and remains one of the reasons for success.

Most businesses look at the right technology for their account -based orchestra, however, finding the right technology should not overshadow the need to first establish a strong account -based strategy. The same can be seen in the research results, where only 11% of respondents chose technology as a major contributor to account-based marketing success.

Top Account -Based Marketing Challenges

Scales

While most organizations understand the advantages of an account-based strategy, running a repetitive account-based strategy still remains a struggle. That’s because organizations have only proven success against a limited set of accounts, and they rely on non -measurable strategies to align implementation, customization, and measurement.

That’s because successful account-based scaling of strategy requires having measurable, repeatable, and tech-savvy strategies that can be planned, customized, and properly executed.

With scaling ABM as a key challenge, organizations are expected to create a consistent and repeatable strategy as the marketing continuity account continues to evolve. Two main factors that contribute to this are:

Having an account selection and rotation process - Organizations can organize accounts that can be treated similarly, providing greater visibility into the content, messaging, and resources needed for implementation in the future month and quarter.

Walking through your target account list and tying resources to those levels - Organizations can deliberately prioritize how resources can be applied. Those who do not align resources against tiers based on expected account value and instead use a one -size -fits -all approach, lose the benefit of deliberately applying resources which deliver the highest return.

Passionate Digital Marketer